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The big answer is "no." I mean, look at Meta. The stock you can actually buy through your broker is not actually a stock that can control the company, so in a
by ubermonkey 1y ago
The big answer is "no."
I mean, look at Meta. The stock you can actually buy through your broker is not actually a stock that can control the company, so in a very real sense it's not a "share" in Meta. Zuck controls nearly all the "preferred" shares that have supervoting privileges, so he can operate it as though it's essentially a private firm. The board, which in a conventional public company could exercise control over the CEO, has no ability to remove him.
- jwatte 1y agoVoting rights in founder-led public companies, and liquidation preference rights in private investments, are very different things.
- deleted 1y ago[deleted]